Securities Firms Post High Profits

Many securities firms recorded quite high profits in the fiscal year 2005 thanks to their robust growth rate and their trading volume has increased on the stock market since the second quarter of 2004.

 

SSI and BVSC led the securities brokerage market in 2005. The two firms accounted for 40 per cent of the brokerage market share. BVSC’s 2005 revenues and profits jumped more than 50 per cent against 2004.

 

Especially, with the overheated growth of the stock market in the early months of 2006, many securities firms reported resounding victories. In the first four months of this year, VBSC attained VND21.1 billion (US$ 1.32 million) revenues and VND12.76 billion profits (exceeding total profits in 2005). The BVSC share value is now six times higher than its original face value. The SSI’s revenues in the first three months of this year were estimated at VND26 billion (US$1.63 million) while its profits were projected at VND20 billion (US$1.25 million). The SSI share value is now nearly 10 fold higher than its original face value.